HVAC Filters Market Study by Segments and Regional Outlook to 2024, Key players: Spectrum Filtration, Parker Hannifin Corp, Tex-Air, Camfilenergy-efficient air purification will contribute to HVAC filters market growth. This can be credited to substantial efforts taken by manufacturers and regulatory authorities. Growing innovation measures have also led to the development of cost-effective systems, which may open avenues for players and escalate product demand.
Availability of improved product offering which also facilitates cooling, heating and humidity control in infrastructural facility will promote its application in residential and commercial building, thus propelling HVAC filters market growth. Rising customer awareness and inclination towards high indoor air quality due to their low toxicity, and environment pollution should drive product demand.
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Stringent environmental guidelines by agencies including FDA, EPA and EU on restricting use of refrigerant, nitrogen oxide, sulphur oxide, and ammonia would drive HVAC filters demand in the predicted timeframe. The product is combined with air conditioners to eliminate impurities from air including fine particulate matter, dirt dust particles, and pollens.
Electrostatic HVAC filters market is anticipated to surpass USD 1.5 billion by 2024. Static electricity entices dirt & dust to vertical and overhead surfaces. Electrostatic filter puts a static electrical charge on all particles present in air that pass-through filter media. This system uses a configuration of woven fabric and anti-microbial foam core which prevents bacteria and mold growth, hence stimulating market growth.
Carbon HVAC filters market will exceed USD 1.5 billion up to 2024. They are designed to purify gases through activated charcoal bed and are deployed to tackle volatile organic compounds released from residential products. They are also utilized to eradicate odors from air, including smell of tobacco smoke, hence propelling the market growth.
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HVAC filters market from construction may observe significant gains up to 4% by 2024. There has been an escalating demand for purification solutions in construction industry. These systems collect dust and avoid dust emissions at multiple stages including primary & secondary crushing and material transfer. The construction industry is expected to grow substantially owing to the multiple infrastructural development projects globally, which would positively impact market share.
HVAC Filters Market in Japan may observe significant gains over 5.5% by 2024. Rising awareness of negative environmental impacts is driving product demand in residential and non-residential sectors including commercial, institutions, office and healthcare sectors. Consumers are changing their preferences for energy efficient products, thus propelling market growth.
Germany HVAC filters market is anticipated to exceed USD 715 million by 2024 owing to presence of various pharmaceutical and food & beverage manufacturers. Extension in product portfolio and R&D initiatives by several manufacturers will develop industry growth. Growing per capita income with government support for clean air should further strengthen regional industry growth.
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HVAC filters market is moderately fragmented and highly competitive with major industry players including:
• Spectrum Filtration
• Parker Hannifin Corp
• Emirates Industrial
Companies are investing heavily in R&D, capacity expansion, and product innovation for growing product demand.
High cost required in installation and maintenance of these systems are expected to hamper HVAC filters industry profitability. Maintenance and cleaning of product is laborious due to numerous layers of filter medium that are detached and cleaned separately, hindering the HVAC filters market price trends.
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